Levy, who joined 888 Holdings in 2006 and took over as CEO
the following year, will remain on the board, the Gibraltar-
based company said in an e-mailed statement today.

“Following very strong trading in the first quarter of
2011, which has continued into the second quarter, Gigi has
decided to step down, leaving the company well positioned for
the future,” the company said in the statement.

888 Holdings, which supplies services to Caesars
Entertainment Corp., has been in talks with Ladbrokes since
December on a possible takeover. A previous round of talks
between the companies ended in 2007.

Brian Mattingley, deputy chairman and non-executive
director at 888, will “work closely with management on all
aspects of the business” pending the appointment of a new CEO,
according to the statement.